Guideline Value for Mamallan Theru

Mamallan Theru guideline value

The current guideline value of Mamallan Theru in Perungalathur village is Rs 2,310 per sq.ft, effective from 1 July 2024. This property falls under the Padappai SRO and is classified as Residential Class II Type - I.

How the guideline value of Mamallan Theru has changed

The guideline value for Mamallan Theru has seen several revisions over the years. The 2012 revision recorded a value of Rs 2,100 per sq.ft, which then decreased to Rs 1,407 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,100 per sq.ft in 2023 and further to Rs 2,310 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The adjustment from 2023 to 2024 reflects a 10% rise. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, placing Mamallan Theru's 2024 figure at this same median value.

• Manaliramakishna Nagar: Rs 1,650 per sq.ft (2024)
• Manavala Nagar: Rs 2,310 per sq.ft (2024)
• Mahalaxmi Nagar: Rs 2,640 per sq.ft (2024)
• Manikkavasakar Street: Rs 1,650 per sq.ft (2024)
• Manimegalai Street: Rs 2,310 per sq.ft (2024)
• Manju Garden: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Mamallan Theru

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty, charged at 7%, would amount to Rs 1,61,700, while the registration fee at 2% would be Rs 46,200. Together, the total cost for these would be Rs 2,07,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mamallan Theru?

The Mamallan Theru area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Perungalathur

The guideline value plays a crucial role in the registration process of property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value as it affects the overall cost of the transaction. This value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Mamallan Theru?

The current guideline value of Mamallan Theru is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,100 per sq.ft in 2012 to Rs 1,407 per sq.ft in 2017, then to Rs 2,100 per sq.ft in 2023, and finally to Rs 2,310 per sq.ft in 2024.

What is the land classification for Mamallan Theru?

Mamallan Theru is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Mamallan Theru?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 23,10,000, the stamp duty would amount to Rs 1,61,700.